The consumption-based determinants of the term structure of discount rates

By Christian Gollier. Social Science Research Network, 2007

124 citations recorded by the source corpus.

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

Declining discount rates: Economic justifications and implications for long-run policy (2008, unknown): “This argument is developed in more details in Weitzman (2007b) and Gollier (2007).”
Understanding, modelling and managing longevity risk: key issues and main challenges (2012, methodology): “Nevertheless, an abundant literature on the economic aspects of long-term policy-making has been developed (see for example Gollier (2007, 2008), Hansen and Scheinkman (2009) or Breeden (1979)).”
Discounting with fat-tailed economic growth (2008, methodology): “Gollier (2007) provides an intuition for why the uncertainty surrounding the drift of the growth process justifies selecting a smaller long discount rate.”
Inflation Bets or Deflation Hedges? The Changing Risks of Nominal Bonds (2013, unknown): “First, consumption shocks raise real interest rates if consumption growth is positively autocorrelated (Campbell 1986, Piazzesi and Schneider 2006, Gollier 2007); in this case in ation-indexed bonds hedge consumption risk and should have negative risk premia.”
Expected Net Present Value, Expected Net Future Value, and the Ramsey Rule (2010, methodology): “approaches are then also perfectly compatible with the well-known Ramsey rule, which has been used recently to provide alternative justifications to the decreasing term structure ( Gollier (2002, 2007) , Weitzman (2007)).”